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Full-Text Articles in Law
Dealing With Disruption: Emerging Approaches To Fintech Regulation, Saule T. Omarova
Dealing With Disruption: Emerging Approaches To Fintech Regulation, Saule T. Omarova
Cornell Law Faculty Publications
“Fintech” refers to a variety of digital assets, technologies, and infrastructure that deal with the operation of today’s financial markets. The regulation of this presents both legal and regulatory challenges. This article examines the regulatory responses to fintech disruption; specifically, the “experimentation” approach, the “incorporation” approach, and the “accommodation” approach. These approaches provide a baseline for further discussion and policy analysis in response to “Fintech.”
Sovereign Debt, Private Wealth, And Market Failure, Odette Lienau
Sovereign Debt, Private Wealth, And Market Failure, Odette Lienau
Cornell Law Faculty Publications
This Article argues that the norms and legal practices of global finance in the arenas of sovereign debt and private wealth have led to a significant market failure, in particular the over-supply of sovereign borrowing and a related misallocation of global capital away from its most productive uses. It suggests that this deficiency rests on two related elements: First, a separation of the risks and benefits of sovereign state control, which has resulted from a failure to properly and coherently define the lines between ‘public’ and ‘private’ across the international financial arenas of sovereign borrowing and private client banking. And, …